secured loans on morgage, please help!!!!!!

summer19

Hello me again!!!!!!!!!!!!!!!!!!!#

Just a quick question if we have a secured loan on our morgage does that make a difference to bankrupsy? its on top of the morgage with the morgage lender???

skylight

It makes a difference if you are planning on keeping the house or not:

NOT keeping house = the secured loan and the mortgage will all eventually go into the BR pot.

YES in keeping house = the secured loan still needs to be paid along with the mortgage (and any mortgage arrears) and can be included in your SOA.


But on its own, it makes no difference to whether or not you can apply for BR and it will not affect you getting BR in any way.